EU-Japan sign "win-win" agreement
The European Union and Japan on Tuesday signed an Economic Partnership Agreement that is the largest trade deal ever negotiated by the EU. Without referring directly to recent trade disputes with the USA, European Commission president Jean-Claude Juncker said the content, scope and timing of the agreement was a statement. “What we are saying is that a trade agreement is not a zero sum game, but a win-win for the involved parties.” The Financial Times said the deal, which had been concluded after four years of “relatively straightforward talks with little public opposition”, was cause for cheer. But the FT also said that it “falls short of an adequate response to the threats to global commerce.” However, European Council President Donald Tusk said the deal sent “a clear message that we stand together against protectionism.”
Brussels and Tokyo also agree on data flow
The Wall Street Journal reports on details of an agreement between Japan and the EU on data flows. This recognises each other's data protection systems as ‘equivalent’ which the EU has so far given to only a dozen countries. “Among those Canada and the U.S. enjoy only limited recognition for commercial purposes,” says the WSJ article.
EU-China commit to WTO rules
Also on their trip to the far east, Juncker and Donald Tusk met with China’s president Xi Jinping and premier Li Keqiang for the 20th EU-China summit. In a joint statement, both sides committed to complying with existing World Trade Organisation rules.
Juncker to meet Trump on trade
And Jean-Claude Juncker will round off a busy July with a meeting with Donald Trump in Washington on the 25th for talks on trade, Reuters reports. A statement from the Commission said the talks would “focus on improving transatlantic trade and forging a stronger economic partnership.”
Agency issues renewables warning
The International Energy Agency has warned that global investment in renewable energy could threaten energy security, climate change and air pollution goals. A report in The Guardian shows that last year fossil fuels increased their share of energy supply investment for the first time since 2014, while investment in renewables fell by 7%.
Solomon confirmed new Goldman Sachs CEO
David Solomon, described in The Guardian as a veteran banker and part-time DJ, will take over as CEO of Goldman Sachs in October the investment bank has confirmed. Forbes says that Solomon is looking in to adding further bitcoin and cryptocurrency services to the bank’s portfolio and reckons his appointment could “further boost the bitcoin price.”
Melanoma blood test could save lives
Australian scientists have developed a blood test for melanoma that can detect the cancer sooner and allow for earlier treatment. ABC news in Australia cites researcher Professor Mel Ziman, who developed the test with a team from Edith Cowan University, as saying they were able “detect melanomas that were less than 1 millimetre in depth, which was fantastic.”
Jupiter’s “new” moons
US researchers working out of the Cerro Tololo Inter-American Observatory in Chile have confirmed the sighting of 12 new moons orbiting the planet Jupiter. The Guardian reports that the moons were first spotted in March 2017, as the team was “hunting for a mysterious ninth planet”, but that it took “more than a year to confirm that the bodies were locked in orbit around the gas giant.”
Commission warns Airbnb
European commissioner for consumers Věra Jourová wants Airbnb to change its pricing on its web site so that consumers can "easily understand what for and how much they are expected to pay for the services.” She has given the holiday rental company until the end of August to comply, says a report on Traveller.com. Airbnb has said it will “work together with the authorities to clarify the points raised.”
Today’s breakfast briefing was compiled by Duncan Roberts